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Will never allow profiteering in education by pvt sector:Sibal- 10-Feb-2010
New Delhi: Asserting that education would remain a not-for-profit sector, HRD Minister Kapil Sibal today made it clear that government will never allow profiteering in education that would go as dividends to the share holders.
Let us be clear that Indian businessmen, who probably because of meltdown do not get profit anywhere, want to get profit out of education. I, as a minister, will stand as a rock to ensure it does not happen," he said.
Sibal was speaking at an interactive session on 'Changing face of Indian education', organised here by FICCI Ladies Organisation.
He said educational institutions can make profit, which has to be ploughed back to the institution for its development.
"But we cannot risk the career of students to the fortune of stock market. We cannot allow profit going back to the share holders as dividend," Sibal said to a question on why the government should not allow education to become a profiteering business segment. He emphatically said that no country in the world allows profiteering in education. "Which country allows making profit from education? No country. Harvard is a trust, Yale is a trust. Stanford is a trust. Mr Stanford is not known for his business, but for his philanthropy," the minister said.
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